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Industry superannuation funds outperformed their retail rivals in 2011, for the sixth time in the past decade, analysis from Chant West shows. In a year in which only seven large pooled schemes gained ground, retail funds, which are largely owned by the banks and listed wealth companies, lost an average of three times more value than industry funds. The industry funds’ performance will give the sector confidence it will remain prominent in industrial awards, even if a forthcoming Productivity Commission review recommends unions and employers use performance criteria when selecting default funds. While the mean balanced retail master trust posted a 3.1 per cent loss, the average industry balanced scheme saw a 0.7 per cent decline. Page 36